Petrobras Increases Its Investment By Over 20 Billion Dollars For The Next 5 Years

Written by Renato Oliveira

Published on 12/06/2019 at 11:44

Aumento de investimentos e desinvestimentos na Petrobras

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Portfolio Management, According to Statements from the President of Petrobras, Raises Investment Estimates for the 2019-2023 Period by Over US$ 20 Billion and Divestments by Over US$ 8 Billion

The president of Petrobras, Roberto Castello Branco, stated yesterday (06/11) that the company plans to invest US$ 105 billion in the next five years.
The amount represents an increase of US$ 20.9 billion compared to the US$ 84.1 billion disclosed last December in the 2019-2023 business plan, but divestments have also increased, according to the president, rising from US$ 26.9 billion to US$ 35 billion.

It is worth noting that in December of last year when the 2019-2023 Business Plan was released, the current president was not yet leading the company.
According to information from the company’s press office, the president of Petrobras referred to the change in values as “portfolio management”.

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The Increases

The 2019-2023 program was already exceeding the previous one by almost US$ 10 billion, with investments in the oil and gas exploration and production sector, the company’s priority, receiving the largest share.
“The best of Petrobras is deep and ultra-deep water oil exploration. Petrobras has highly qualified human capital; we have the best engineers and technology. The same cannot be said for mature oil fields, on land and in shallow waters,” declared Castello Branco.

Regarding divestments, the values have been revised, due to the decision of the Supreme Court that congressional approval will not be required for the sale of refineries.
The previous plan did not foresee selling the eight refineries in their entirety.

Petrobras signed a term yesterday (06/11) with CADE that provides equal conditions for all competitors in the purchase of refineries, aiming to prevent the formation of cartels in the sector.

Petrobras Increases Its Investment By Over 20 Billion Dollars For The Next 5 Years

Portfolio Management, According to Statements from the President of Petrobras, Raises Investment Estimates for the 2019-2023 Period by Over US$ 20 Billion and Divestments by Over US$ 8 Billion

The Increases

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Petrobras Increases Its Investment By Over 20 Billion Dollars For The Next 5 Years

Portfolio Management, According to Statements from the President of Petrobras, Raises Investment Estimates for the 2019-2023 Period by Over US$ 20 Billion and Divestments by Over US$ 8 Billion

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Seen from high in the stratosphere, a Lego Star Devourers rose to 34,988 meters attached to a balloon, returned to Earth intact, and entered the Guinness World Records in a record that seems like science fiction.

In 1991, Brazil’s GDP was almost double India’s, and today it is little more than half: while India grew 6.5% per year and trained engineers, Brazil preferred to train lawyers, and now it is rushing to strengthen ties with the world’s fourth-largest economy.

India built a 21.8-kilometer sea bridge to connect Mumbai to Navi Mumbai, and a journey of up to 120 minutes fell to about 20.

South America’s most famous oasis has an emerald lagoon formed by underground waters in the Peruvian desert. It is located 300 km from Lima, is surrounded by giant dunes, and holds a mysterious mermaid legend.

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